Middle East

Gulf Petrochem plans rapid expansion

Dubai: Sharjah-based Gulf Petrochem has made growth plans for the following years and will be looking for acquisition opportunities.

Accroding to M Prabakaran, global head, terminals of Gulf Petrochem, the company is planning to enter into new markets like Singapore, Malaysia and Sri Lanka.

“We are aiming to become a $4bn company by 2016 from $2bn at the moment. That’s the vision we have for the company. We are on a development spree,” Prabakaran said.

“This year our focus is on East Africa and Nigeria. In 2016, we will be looking into Europe and the US,” he added.

Prabakaran said the company’s oil terminal at Pipava port in the Western Indian state of Gujarat will be commissioned soon, which will add momentum to the company’s long term expansion strategy. [30/01/15]


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